Back to the complete issue
Sunday, 6 January 2019

Al Nour for Dairy in talks to acquire Greenland after Almarai talks fall through

**#4 M&A WATCH- Al Nour for Dairy in talks to acquire Greenland after Almarai talks fall through: Al Nour for Dairy Industries — which counts businessman Mohamed Halawa and Lactalis as shareholders — is reportedly in talks to acquire Americana Group subsidiary Greenland Group for Food Industries, according to a domestic press report citing sources with knowledge of the matter. Saudi dairy product producer Almarai had been looking to acquire Greenland in a transaction worth as much as USD 75 mn last year, but talks have fallen through over disagreements on the transaction value. The sources did not disclose the expected value of Al Nour’s acquisition. The company is expected to complete due diligence on Greenland during 1Q2019. Greenland had been in the red for seven years but returned to profitability in 2015.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.